Portolan Capital Management LLC Lowers Stock Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Portolan Capital Management LLC trimmed its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 15.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 154,059 shares of the textile maker’s stock after selling 29,131 shares during the period. Portolan Capital Management LLC’s holdings in Skechers U.S.A. were worth $10,310,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. UMB Bank n.a. boosted its position in Skechers U.S.A. by 423.3% in the 3rd quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock valued at $30,000 after buying an additional 364 shares during the period. Venturi Wealth Management LLC boosted its position in Skechers U.S.A. by 52.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock valued at $58,000 after buying an additional 299 shares during the period. Brooklyn Investment Group purchased a new stake in Skechers U.S.A. in the 3rd quarter valued at about $67,000. 1620 Investment Advisors Inc. purchased a new stake in Skechers U.S.A. in the 2nd quarter valued at about $69,000. Finally, Blue Trust Inc. raised its holdings in shares of Skechers U.S.A. by 778.1% in the 3rd quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock valued at $69,000 after purchasing an additional 887 shares in the last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on SKX shares. Needham & Company LLC started coverage on shares of Skechers U.S.A. in a report on Friday, November 22nd. They issued a “hold” rating for the company. StockNews.com lowered shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, November 25th. TD Cowen reduced their price target on shares of Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating for the company in a report on Monday, October 14th. Bank of America reduced their price target on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating for the company in a report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a report on Friday, October 25th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $78.09.

Skechers U.S.A. Trading Up 5.4 %

Shares of Skechers U.S.A. stock opened at $69.17 on Wednesday. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a 12-month low of $55.67 and a 12-month high of $75.09. The firm has a market capitalization of $10.44 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 0.91 and a beta of 1.22. The firm’s 50 day simple moving average is $63.53 and its two-hundred day simple moving average is $66.05.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.11. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the prior year, the business posted $0.93 EPS. Skechers U.S.A.’s revenue for the quarter was up 16.0% compared to the same quarter last year. Analysts predict that Skechers U.S.A., Inc. will post 4.25 EPS for the current year.

About Skechers U.S.A.

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through Wholesale and Direct-to-Consumer segments. It offers footwear under Skechers Hands Free Slip-ins, Skechers Arch Fit, and Skechers Air-Cooled Memory Foam brands.